Financial Policy Measures to Strengthen Liquidity in the Real Estate Project Financing Market
Korea Real Estate Industry Society, Byeng Kuk Kim, Byung Kwon Lim, Han Ik Jang · KOREA REAL ESTATE INDUSTRY SOCIETY · 2022
As financial markets and economic conditions are rapidly changing around the world and the domestic real estate market is turning into a recession, credit crunch and liquidity risks are expanding in the real estate PF market. Accordingly, in this study, a financial policy plan that can supply liquidity to the domestic real estate market and reduce the delay rate was proposed. First, in the case of using P-CBO, a plan to support desired funds through the issuance of new corporate bonds using corporate bonds of construction companies that are difficult to raise and refinance in the housing finance market as an underlying asset It is a plan to guarantee and purchase from government-run banks and finances. In addition, a plan was proposed to jointly invest by comprehensive financial investment companies and purchase ABCP directly with the funds. On the other hand, in the case of unsold housing utilization, the housing builder's financing plan for unsold housing was designed by dividing it into unsold housing after completion and unsold housing before completion.